CBEC allows businesses to rectify errors in GSTR-3B returns

Permits reporting of differential figures for past months

by Nidhi Bhati

The CBEC has relaxed norms for business entities to rectify errors in GSTR-3B monthly returns. The department stated that since GSTR-3B does not contain provisions for reporting of differential figures for past months, the said figures may be reported on net basis along with the values for current month itself. However, no negative entries are permitted. The amount remaining for adjustment, if any, has to be adjusted in the returns in form GSTR-3B of subsequent months. Businesses can claim refund in cases where such adjustment is not feasible, stated CBEC.

References
1. https://economictimes.indiatimes.com/news/economy/policy/government-relaxes-norms-for-rectification-of-returns-under-gst/articleshow/62325272.cms
CMIE STATISTICS
Unemployment Rate
Per cent
6.3 +0.1
Consumer Sentiments Index
Base September-December 2015
93.5 +0.8
Consumer Expectations Index
Base September-December 2015
93.9 +0.6
Current Economic Conditions Index
Base September-December 2015
92.8 +1.0
Quarterly CapeEx Aggregates
(Rs.trillion) Jun 17 Sep 17 Dec 17 Mar 18
New projects 2.32 1.37 1.18 2.15
Completed projects 0.87 1.21 1.02 1.06
Stalled projects 2.67 0.69 0.93 3.34
Revived projects 0.30 0.34 0.23 0.14
Implementation stalled projects 0.73 0.72 0.58 1.05
Updated on: 23 Apr 2018 12:20PM
Quarterly Financials of Listed Companies
(% change) Jun 17 Sep 17 Dec 17 Mar 18
All listed Companies
 Income 9.6 7.9 11.9 12.3
 Expenses 9.9 9.0 12.9 11.5
 Net profit -19.9 -18.1 -13.9 14.1
 PAT margin (%) 5.3 5.5 4.9 19.5
 Count of Cos. 4,481 4,468 4,430 48
Non-financial Companies
 Income 10.2 8.2 13.2 8.5
 Expenses 10.5 8.2 12.3 7.7
 Net profit -25.1 -6.0 12.7 9.7
 PAT margin (%) 5.2 6.2 6.4 19.8
 Net fixed assets 9.2 0.7
 Current assets 78.7 7.3
 Current liabilities 11.0 21.6
 Borrowings 10.4 -5.3
 Reserves & surplus 5.2 -2.1
 Count of Cos. 3,458 3,441 3,426 34
Numbers are net of P&E
Updated on: 23 Apr 2018 12:20PM
Annual Financials of All Companies
(% change) FY15 FY16 FY17 FY18
All Companies
 Income 5.5 1.5 5.1 1.6
 Expenses 5.6 1.7 5.1 0.7
 Net profit 0.0 -10.3 23.7 9.2
 PAT margin (%) 3.1 2.8 3.6 8.3
 Assets 9.5 10.0 6.9 3.3
 Net worth 8.5 11.4 6.0 2.8
 RONW (%) 5.8 4.9 5.9 12.7
 Count of Cos. 25,647 23,668 20,755 19
Non-financial Companies
 Income 4.7 0.6 4.7 1.5
 Expenses 4.9 0.0 5.2 0.6
 Net profit -8.6 18.4 18.0 10.7
 PAT margin (%) 2.0 2.5 3.1 7.4
 Net fixed assets 13.3 17.3 5.4 4.4
 Net worth 6.9 12.0 4.4 2.9
 RONW (%) 4.6 5.1 6.0 11.5
 Debt / Equity (times) 1.1 1.1 1.0 0.2
 Interest cover (times) 1.9 1.9 2.1 11.8
 Net working capital cycle (days) 66 65 62 38
 Count of Cos. 20,897 19,807 17,287 17
Numbers are net of P&E
Updated on: 18 Apr 2018 11:50AM

Time series available from 1990 onwards